Teens responsible for all purchases using monthly allowance...anyone do this?

[reginaastralis]

My parents do something to this effect with my sister. She is 13, nearing 14, and it seems to be doing a decent job. She gets $50/month for "discretionary" spending. My parents still put money in her separate school account for lunch, and buy most of her school supplies and clothes, but her extras are all hers.

For example, she really REALLY wanted to go see My Chemical Romance today, she asked me to take her about two months ago. We are 14 years apart, so I am a chaperone for all sorts of concerts. She asked me to go with, and told me I had to pay for my ticket, and I laughed. Money is more than tight on my end, and to give up a day at work AND pay for my ticket was not in the budget, but I told her I would think about it. My mom called me a few weeks ago to ask if I would be interested, and told me she had told my sister that if she wanted to me to go with her to the concert, she'd have to pay for the ticket. Up to this date, any concert my mom has bought both tickets for. It would have been two months of allowance, and she has the opportunity to earn more money around the house with "extra" chores (ie, she can wash one of the three dogs for $5). Needless to say, we aren't going to the concert. When she realized how much my mom was forking out for our previous shindigs, the price was too high.

And I can see so far, she seems to have a much better appreciation for money than my brother and I ever did. She really is looking forward to turning 15, so she can get job.

 

[Katy Belle]

I have two sons that would run around in rags and outgrown shoes! One HATES to spend $ and the other HATES to shop and cares very little about what he wears! They do have to budget for most of their own personal items, but not clothes.

 

[yesiamcrazy]

My parents did this with me as a teen but I was older. It was a fairly high amount, but it included my car's gas, lunches at school or away from home, clothing beyond the absolute necessities, any activities etc. Turned me into a frugal person.

 

[leagirl12]

Well we started this new plan this weekend. Here is the options we gave them:

Option #1 - Each start of the season we will give a set amount to kickstart their wardrobe. They will then get $80 a month and are responsible for ALL purchases such as extra clothing, outings with friends, snacks at a football game (we feed them dinner), gifts for friends...stuff like that. If we have a family outing we will pay for that.

Option #2 - We pay for ALL clothing. They will then get $50 a month and are responsible for ALL purchases such as outings with friends, snacks at a football game (we feed them dinner), gifts for friends...stuff like that. If we have a family outing we will pay for that.

DD chose option #1 and DS chose option #2. It was interesting to watch them with this over the weekend. We told them at dinner on Saturday night and stopped at a store on our way home. DS bought a nerf gun...just had to have it. He really needs to learn about spending and saving so this will be a good thing for him...money burns a hole in that boys pocket. I want him to break that habit before he becomes an adult...hopefully this lesson will do that. I reminded him that he has two football games and a band competition before he gets paid again and I am sure he will want snacks at those.

DD made very wise choices. She needed a belt and had wanted to go to a particular store when I was paying but when it became her job to buy it she chose one on clearance at Wal-Mart. She got a small notebook she is keeping in her purse and is writing down all of her purchases. She was so proud when we went to JCPenney's on Sunday and she bought a long sleeve shirt and a short sleeve shirt for $3.95 total because one was on clearance and she had a $10 coupon I had given her.

 

[tlbwriter]

One of my daughter's friends does this. Not just for clothes, but for *everything* - school supplies, lunch, camps, etc. I'm not sure what I think about it.

 

[Grumpy's Gal]

yes and my neice even has to pay for her allergy presecription at the pharmacy each month. her mom wants to make sure she understands how to budget for meds etc. I think it is FABULOUS!

 

[Disneefun]

My neighbor does this with her three kids. She started each one when they were in the eighth grade, since that seemed to be when their tastes got very spendy.

She said there's dissent at first, but she holds firm and they come to accept that that's the way it's gonna be. She says that it's worked wonders. The kids now know how to look for sales, use coupons and most importantly, they've learned to live without the things that so many of their friends think are necessities (smart phones with full plans, designer clothes, etc.). They know that these things aren't cheap and are better prepared for life in the real world when those first salaries won't begin to pay for everything.

The oldest is in college now and is on track to graduate with no debt b/c she's taken on several jobs, gotten scholarships, and watched her money very carefully to be sure she doesn't overspend. She's got a good grasp of money management that should see her off to a good start in life.

 

[averysmom]

I had a student whose family did this; he got a lump sum at the beginning of the month, at that was it. Let me tell you, he was not spending 5 dollars at the canteen everyday, nor was he careless with his school supplies. I'm always surprised at how poorly some kids treat their supplies!

 

[AnnicaJ]

My parents did this when I grew up. From the day I turned 13 I got about $300 a month to pay for clothes, hobbies, snacks, etc. They also showed me a fact sheet from the bank with the estimated expenses per month for teenagers at different ages as a guideline or a budget. They helped me to open a separate savings account where I could put aside whatever was left on my "spending account" every month. The amount saved could vary from very little to a whole lot. A system I still use as an adult.